Trading plan Forex for 08.02.2019

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The Asian stock market is bitter after the US-China trade negotiations.
The hopes for trade agreements between the US and China were somewhat dimmed when yesterday US President Trump said he would not meet with Chinese President Xi during his visit to Asia. President's adviser Kudlow confirmed that between the parties there are still significant differences and a "long way to go". The information aroused moderate reactions in the form of falls in USD / JPY, AUD and CNH. However, it must be remembered that negotiations are still underway with the next round scheduled for February 11.

Forecast and technical analysis EURUSD on February 07, 2019.

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EURUSD: correction expected, followed by a further drop

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On Wednesday the 6th of February, trading on the euro closed down. The euro’s decline was brought about by a broadly stronger dollar across the global Forex market, along with a jump in US10Y bond yields. Bond yields didn’t close the day up, but the growth that did occur led to the opening of long positions on the dollar. During the European session, the euro corrected to 1.1399, before dropping to 1.1361 during trading in the US.

Forecast and technical analysis EURUSD on February 06, 2019.

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EURUSD: pair continues to head south

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On Tuesday the 5th of February, trading on the euro closed down. The pair recommenced its decline as trading opened in Europe, with the drop gathering pace in the US session. By the end of the European session, the euro had dropped to 1.1401 against the dollar despite a disappointing services PMI report in the US.

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